Brookfield Renewable upgraded to Overweight from Neutral at JPMorgan

JPMorgan analyst Mark Strouse upgraded Brookfield Renewable (BEPC) to Overweight from Neutral with a price target of $34, up from $32. The company’s leading access to capital positions it to accelerate investment in projects and its scale and diversification “provide a relative safe haven in the sector,” the analyst tells investors in a research note. The firm says demand for de-risked, operational assets from low cost capital organizations is strong, supporting Brookfield’s expectation that fiscal 2024 capital recycling will reach record levels.